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May 17, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Iowa City, Business Loans > Iowa St. Bank & Trust Iowa City Business Loans > Food Service Contractors Loan | ||||
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Iowa Small Business SBA Loans
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Iowa St. Bank & Trust Gives Business Loan to Food Service Contractors CompanyLooking to get an Iowa business loan? This Iowa entrepreneur got a business loan, provided by an Iowa bank that works with the SBA to help small business owners. By giving the right information to Iowa St. Bank & Trust, this Coralville, Iowa business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FOOD SERVICE CONTRACTORS SBA Loan Lender IOWA ST. BANK & TRUST This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722310 - Food Service Contractors Loan Approval Date 2/4/2004 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you are wondering how to raise money for a company in Coralville IA, you ought to talk with a local Coralville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Coralville businesses. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Raising VC Money for Social Networking Companies Small Bank Loans in Iowa City, Iowa
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